From fender-benders on Main Street to multi-vehicle collisions on US-10, accidents can happen anytime, anywhere and to anyone -- particularly in the winter when roads are slick with ice and sleet. Fortunately, a reliable car insurance policy can shield Coon Rapids drivers from facing large financial losses in the wake of a collision.
If you own a vehicle in Minnesota, you are required to have auto insurance. An independent insurance agent in or near Coon Rapids can help you find the best policy to meet your specific coverage and budgetary needs.
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How Much Does Car Insurance Cost in Coon Rapids, Minnesota?
- National average cost per year: $1,311
- Minnesota average cost per year: $1,222
- Coon Rapids average cost per year: $1,153
Minnesota is the 29th most expensive state for auto insurance. The average rate in this state is lower than the national average; in Coon Rapids, the average rate is even lower. This is good news if you are looking to buy an affordable auto policy.
Keep in mind, however, that the figures above are merely averages. Auto insurance rates are calculated on an individual basis and can vary significantly according to several factors like:
- Your vehicle’s make, model, and year
- Details about the licensed drivers in your household
- The amount of liability insurance you are purchasing
- Whether you qualify for policy discounts like good driver discounts or good student discounts
- Whether you are bundling your auto insurance with other policies like homeowners insurance or renters insurance
- Your credit score
Every insurance company has a different formula for calculating rates. Therefore, comparison shopping lets you find the policy with the best price. Independent agents in Coon Rapids can help you obtain and compare quotes for car insurance.
Minnesota Car Insurance Requirements
- Bodily injury liability: Required
- Property damage liability: Required
- Personal injury protection (PIP): Required
- Uninsured motorist coverage: Required
- Minimum liability limits: 30/60/10; coverage up to $60,000 for all persons injured in an accident, subject to a limit of $30,000 for one individual; and $10,000 coverage for property damage.
Minnesota’s minimum coverage requirements are designed to protect your finances if you are in a collision. Although these amounts may be high enough to cover the costs associated with most accidents, serious collisions that result in extensive injuries and property damage are likely to exceed these limits. If that happens, you will be expected to make up the difference.
Coon Rapids drivers who have a lot to lose frequently choose to purchase liability coverage in amounts that are much higher than the state requires. Additional coverage can be obtained through an umbrella insurance policy. Your independent agent can help you compare rates for different levels of coverage while you are deciding how much coverage is enough for you.
Number of Uninsured Motorists in Minnesota
Driving without insurance in Minnesota is illegal. If caught, an uninsured driver will face fines up to $3000, suspension of their driver’s license, and even possible jail time if they are a repeat offender. Despite this, one in ten drivers you see on the roadways does not have car insurance.
- How many US drivers are uninsured? 12.6%.
- How many Minnesota drivers are uninsured? 10.8%.
If you find yourself in an accident that was caused by an uninsured driver, that person is responsible for paying for any damage and necessary medical treatment. Collecting this money can be time-consuming and extremely difficult. It may involve taking the person to court, and even then, if they just don’t have the money, you may never get compensated.
That is why uninsured motorist insurance was created. It covers damage and injuries that may result if you are in a collision with an uninsured, underinsured, or hit-and-run driver. That way, if the at-fault driver doesn’t pay up, your insurance company will absorb the costs. This insurance is required of drivers in Minnesota.
Number of Auto Thefts in Coon Rapids, MN
In a typical year, Coon Rapids residents report approximately 50 auto thefts. In a city this size, that equates to a rather low auto theft rate.
- National number of thefts per 1,000 vehicles: 2.94
- Minnesota number of thefts per 1,000 vehicles: 1.74
- Coon Rapids number of auto thefts per 1,000 vehicles: 0.80
This is good news for vehicle owners in Coon Rapids since it can have a positive impact on your auto insurance rates.
In the unlikely event your car is stolen, your car insurance will only provide coverage if your policy includes “other than collision,” or comprehensive, insurance. This optional insurance is often required by lenders until your car is paid in full. Comprehensive coverage also covers other non-collision damage such as that caused by falling objects, floods, and fires.
Why Work with an Independent Insurance Agent?
An independent agent in Coon Rapids can be a great resource for you. These agents can answer your insurance-related questions and can provide you with a selection of car insurance quotes to compare. That way, you can choose the policy that best meets your coverage and budgetary needs.
Find an agent in or near Coon Rapids to begin your search for the best auto insurance policy.